Torchlight loans Metamaterial US$10 million for equipment and product development

Torchlight Energy Resources loaned US$10 million to Metamaterial Inc. via an unsecured convertible promissory note. Metamaterial will use approximately US$5 million to accelerate acquisition of pilot scale production equipment and expand product lines.

“Torchlight has loaned US$10,000,000 to META evidenced by an unsecured convertible promissory note.”newswire.ca

• 1 source
• newswire.caTorchlight Loans Metamaterial US$10,000,000, Allowing Metamaterial to Execute on Business Plan in Advance of Shareholder VotesMetamaterial Inc.Feb 22, 2021

Summarized from public sources; check the original articles before acting on it.